Lumentum (NASDAQ:LITE) issued an update on its first quarter 2022 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $1.470-$1.610 for the period, compared to the Thomson Reuters consensus estimate of $1.450. The company issued revenue guidance of $430 million-$445 million, compared to the consensus revenue estimate of $437.13 million.
LITE stock traded up $0.43 during midday trading on Wednesday, hitting $86.34. The company’s stock had a trading volume of 8,416 shares, compared to its average volume of 1,311,560. The firm has a market capitalization of $6.28 billion, a P/E ratio of 17.01 and a beta of 0.92. The firm has a 50-day simple moving average of $83.64 and a 200-day simple moving average of $84.43. Lumentum has a 52-week low of $65.67 and a 52-week high of $112.08. The company has a quick ratio of 3.37, a current ratio of 3.67 and a debt-to-equity ratio of 0.40.
Lumentum (NASDAQ:LITE) last released its quarterly earnings data on Tuesday, August 17th. The technology company reported $1.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.09. The business had revenue of $392.10 million during the quarter, compared to analysts’ expectations of $382.17 million. Lumentum had a net margin of 22.80% and a return on equity of 20.42%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.18 EPS. On average, sell-side analysts expect that Lumentum will post 4.58 earnings per share for the current fiscal year.
In related news, CAO Matthew Joseph Sepe sold 3,145 shares of the company’s stock in a transaction that occurred on Monday, August 23rd. The shares were sold at an average price of $86.37, for a total transaction of $271,633.65. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Wajid Ali sold 6,481 shares of the company’s stock in a transaction that occurred on Wednesday, August 18th. The shares were sold at an average price of $82.50, for a total transaction of $534,682.50. Following the transaction, the chief financial officer now directly owns 70,314 shares in the company, valued at approximately $5,800,905. The disclosure for this sale can be found here. Insiders have sold 25,146 shares of company stock worth $2,144,141 over the last 90 days. 0.32% of the stock is currently owned by company insiders.
Lumentum Company Profile
Lumentum Holdings, Inc engages in the provision of optical and photonic products. It operates through the Optical Communications (OpComms) and Commercial Lasers segments. The OpComms segment includes a range of components, modules, and subsystems to support customers including carrier networks of access (local), metro (intracity), long-haul (city-to-city and worldwide), and submarine (undersea) applications.
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